Swiss premium hotel chain Movenpick said it has opened a new upmarket hotel in the Turkish city of Izmir. The five-star Movenpick Hotel Izmir, which has been extensively refurbished over the last two years, offers 185 rooms and suites tailored to the needs of business travellers. After Istanbul and Bodrum, Izmir is the Swiss group’s third hotel in Turkey.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
